We have all seen the letters in the mail. Your employer is updating their benefits policies, and by law, you are required to receive notification summarizing the changes. These notices contain a lot of legal jargon and fine print, and you probably threw them away without much more than a cursory glance. Although these updates […]
According to USA Today, the stock market gained 20 percent last year, making 2017 one of the best years for stocks since Y2K. A natural result of these gains was a rise in the value of 401(k) or 403(b) investments for consumers around the country. While the money in 401(k) and 403(b) accounts grew, so […]
A Montana federal court began a recent ruling by asking: “Who is the beneficiary of a lawsuit stemming from an ERISA employee’s misfortune? Is it the ERISA plan or is it the unfortunate employee?” The case, Rustad-Link v. Providence Health and Services and Unum Group Corp., 2018 WL 627560 (D. Mont., Jan. 30, 2018), involved […]
Qualifying for disability benefits often requires claimants to face many hurdles. An initial claim denial is not the end of the road, though. If you have group coverage, it is likely governed by ERISA, the Employee Retirement Income Security Act. One of the benefits of ERISA is that if a claim is denied, the claimant […]
The ERISA 1 law was enacted in 1974 by Congress to protect . . . participants in employee benefit plans and their beneficiaries, by requiring the disclosure and reporting to participants and beneficiaries of financial and other information with respect thereto, by establishing standards of conduct, responsibility, and obligation for fiduciaries of employee benefit plans, and by […]
Introduction The starting point to keep in mind when analyzing disability insurance claims handling is that both the insurer and the insured share a desire for accurate claims processing so that meritorious claims receive payment. The recent Supreme Court ruling in Metro.Life Ins.Co. v. Glenn 1 reinforced the need for accurate claims processing, 2 and no one who works in […]